M&g Share Discussion Threads

[shieldbug] 22/10/2019 16:09

Yes, thanks. Apologies for my lazy attempt at working it out.

[essentialinvestor] 22/10/2019 15:07

bench, you are a star, many thanks for that and much appreciated.

[bench2] 22/10/2019 15:05

P22 of the Investor Presentation on their website ........ £310m is the final dividend , excluding the one off special of £100m . So you can expect £410 to go ex div around May 2020 . On P22 it clearly states that the £310m final will be 66.66 % of the total div so the implied total div is £465m ( £ 310m + £155m ) So divs Final : 11.9p + Special of 3.8p , Interim ex circa Sept 2020 of 6.0p .

Stephen Horgan , head of investor relations has approved my maths . So excluding specials the total div for year end 31 Dec 2019 will be circa 17.9p . So the implied yield on M&G at current price of 206p is 8.7% ........ I rest my case along with Chesnara and Phoenix this is a high yielding stock .

If you don't believe me read P22 of the presentation on their website ( and the small print at the bottom . Total divs payable in 2020 amount to 21.7p .

[churchill2] 22/10/2019 14:46

Not quoted on the HK stock market. Possibly selling MG from there and buying Prudential which is listed in HK.

[essentialinvestor] 22/10/2019 14:44

I read it as the FY, as they were at pains to suggest they set the base
dividend at a sustainable level ..?

[shieldbug] 22/10/2019 14:36

Is the £310m just the final dividend - or is it the full year dividend.

If it is the final dividend, that would suggest that from next year, the full year would be £310m + £103m (one third for the interrim). Its really not very clear what the £310m dividend actually is.

[essentialinvestor] 22/10/2019 14:32

Given that you can get well over 6% from PHNX, this may
need to trade lower to attract interest?.

Not making a comparison to SLA as would question
their dividend sustainability.

Any thoughts on this appreciated.

[essentialinvestor] 22/10/2019 14:17

Yes, so a more accurate idea of the base yield is Ex the bonus element.

[shieldbug] 22/10/2019 14:13

From the Prospectus:

Interrim dividend will be 1/3 of the previous full year.

The company will pay around £310m or 11.92p/share paid in May 2019.

At the same time they will pay a "demerger" dividend of £100m or 3.85p.

So by the sounds of it they will pay 15.77p (7.8% at the price right now) for anyone holding these shares until then.

Is this what people are expecting?

[essentialinvestor] 22/10/2019 14:13

Second lot @ 201.44

[essentialinvestor] 22/10/2019 12:59

Could it best described as a combination of PHNX and SLA?.
(without the consolidator aspect of PHNX).

That's my rudimentary take.
Under £2 possible ...?

[essentialinvestor] 22/10/2019 11:14

Added a very small amount @ 209.5.

[cashflow101] 22/10/2019 11:00

b2,looks like I was right and U was right too ! Had another look at Prus big demerger doc (yawn) and it says MNG about 11 p interim div plus about 4 p demerger div,so your figs are nearly the same as mine and as E I said just now,its the stock no one wants,already down 9 p this am.

In the old days before online trading etc Pru would have given us the choice of selling 'em for free, instead of having to faff about ourselfs !

Divs due in May,by the way...................

[essentialinvestor] 22/10/2019 10:51

It's the one no one wants, eh

[bench2] 22/10/2019 10:03

Thanks cashflow101 , I will check again . The other caveat is that the company now has to bear £80-100 m of overhead costs and £190m of interest on debt . I have only bought a half position as quite often private clients , WM's , can't be bothered with the small spin off holding and will be early sellers , so I am expecting selling pressure in the short term .

[cashflow101] 22/10/2019 09:56

I think and I havent had time to re-read it recently,but part of this is a special divie,to be paid in the Spring,so its regular div aint yielding 8 %. Just my 2ps worth.

[bench2] 22/10/2019 09:11

Worth a look at their new website ... P 22 of their Investor Presentation is interesting ..... indicated full year dividend is £465m which on circa 2600m shares outstanding is 17.88p ... so at a share price of 217p the prospective yield is 8.2% , on last years after tax profit of £806m the cover is 1.7 times ( EPS 31p ) . It looks good value to me . I accept it is high beta and there will be endless pressure on management fees but I have added at 216p this morning . Would anyone have time to check my maths on their website ?

[cashflow101] 21/10/2019 19:25

I added it to my Yahoo port' today......................all 200 of 'em !

[luderitz] 21/10/2019 19:00

Has anyone tried to add MNG to their invest.com list today?

[cordwainer] 21/10/2019 12:11

3 of 3 :-)

On balance looking like a gain for shareholders so far today. Although no update from my broker Fidelity so far.
If my backwards glance at the news feeds is reading it right, it's trying to be a 3-way split for customers of Prudential though, of which I am not one, but some older members of my family and relatives might get confused and nonplussed in due course...
Meanwhile, will one or both of PRU and MNG be targets now ?

[skinny] 21/10/2019 08:37

On Admission, M&G's issued share capital consisted of 2,599,906,866 shares with a nominal value of £0.05 each and all M&G shares carry voting rights of one vote per share. M&G does not hold any shares in treasury.

John Foley, Chief Executive of M&G, said:

"Today's listing marks a very significant milestone for M&G. Our independence and unique business mix means we are well-positioned to benefit from long-term economic and social trends that offer growth opportunities for many years to come. We will continue to build on our strong track record of value creation as we focus on delivering our capital generation and other objectives as an independent business."

[energyi] 25/2/2005 17:10

To: russwinter who wrote (27207) 2/25/2005 10:37:12 AM
From: jjrgspab Read Replies (1) of 27220

Looks like pretty nice news from Miramar; added another million ounces of gold resources at Hope Bay. I picked up a few shares this morning at $1.50. Still one of your favourites Russ? jrg

[energyi] 15/12/2004 22:31

Miramar Mining Corporation (MAE-T:C$1.49)(MNG-A:US$1.23)

MARKET OUTPERFORM, 12-month target price: C$2.65
P. Mark Smith, M.Sc. / [phone]

52-Week Range......... $3.74/$1.11

Shares O/S (MM)....... 159.4
Fully Dil. Shares (MM) 167.3
Float (MM)............ 159.4
Market Cap. (MM)...... 238.0

Ave. Vol. (000 sh./day).... 977
Working Capital Q3/04 ($MM) $25
Cash Q3/04 ($MM)........... $27

All figures in C$
NIRB Report Accepted, Awaiting Approval

Although its acceptance was required, the approval of the NIRB Report, along with the supplemental information, remains. The speed to which approval can be accomplished we believe could outpace the initial review, now that most items in the initial application having been covered. However, the timing is uncertain and we look towards Q2 for potential approval.

To be conservative, we have assumed that the modifications and re-filing for NIRB review could slow the project by nine months into 2007, although generating this information may actually speed up future permitting processes.

Miramar should ultimately receive a positive recommendation to proceed to the next stage of the permitting process. We continue to rate Miramar at MARKET OUTPERFORM with a 12-month share price target of C$2.65.